Thursday, November 5, 2009
ExxonMobil Chemical's affiliate TonenGeneral and Toray Industries have agreed to establish a global joint venture for the battery separator film business. It will develop, manufacture and sell lithium ion battery (LIB) separator film and introduce next-generation films to the market.
The joint venture will combine Toray's plastic film processing and polymer science capabilities with Tonen's existing lithium ion battery separator film business and technology. It will build on ExxonMobil's more than 20 years of experience and success in providing separator films, including for use in the personal electronics market, as well as support the development of future LIB applications in hybrid-electric and electric vehicles.
"We believe the joint venture will accelerate the development of separator film technology to support the rapidly evolving lithium ion battery market faster than either company could do alone," said Jim P. Harris, senior vice president ExxonMobil Chemical Company.
Detailed agreements are being prepared in anticipation of the joint venture formation in January 2010. TonenGeneral and Toray Industries will each hold a 50 percent interest in the joint venture, with headquarters located in Tokyo.
"We are confident that Toray's innovative ideas and technologies will enhance the capability of the joint venture to capture growth and meet the needs of the growing LIB market," said Sadayuki Sakakibara, President, CEO and COO, Toray Industries Inc.
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